MP Week In Review

Scott G. Marshall - Feb 08, 2019

Wealthier. That’s it, in a single word, ultimately our only goal is to make you wealthier.


Like so many other life goals there is a mountain of work and commitment needed to deliver that simple word, not just from us but also from our clients. The tag line from Nike comes to mind, “Just do it “. Hah, have you ever tried that? Of course, I know you have, we all have. Just try to lose five pounds, and keep it off. Just try to save more money every month from every pay cheque, as taxes and life demands and costs go up and up around you. Just try to keep the living room dust and dog hair free for more than fifteen minutes after cleaning it, no matter the brilliant promises made by Dyson and their Cyclone V10 Animal Cordless! Better yet, buy two Cyclone V10’s, just imagine how perfect your life could be then!

Just do it?


We understand that sensational news clips and investment promises and product and service pitches delivered constantly to your phones and iPad and televisions can prompt swings of irrational exuberance and just as often can cause outsized fear and loathing. Ultimately these sources of news bites and updates have a very different goal in mind. They want to capture you, mesmerize you, redirect you or divert your attention long enough to make you look at their product, or some paying advertiser’s product. Ultimately, they want to sell you something, they want you to buy something.


"Too many people spend money they buy things they don't impress people that they don't like."

— Will Rogers


They want you to lose your focus just long enough to click on some link that their site hosts so that someone pays them. Their goal is to make “them” wealthier, not you.


There is no magical or miraculous way to achieve wealth, other than winning a lottery. The true math of any lottery is that buying a ticket is actually a voluntarily paid “tax”. I know, I know…someone wins, but behind any sensational advertised win are millions of ordinary people paying millions and millions of hard-earned tax paid dollars to fund that “win”. Hope is what you buy when you buy a lottery ticket, hope is not an investment strategy. I am not lecturing, or telling you never to buy another lottery ticket, but pay yourself first, invest in yourself and your family first. March 1st is fast approaching and that is the deadline for making your RRSP contribution for the 2018 tax year. If you can, and if you haven’t already done so, make that contribution. It will help you keep more of your earned income and could reduce your tax bill. Certainly not as much fun as dreaming of a big lotto score but it will help make you wealthier. Likewise, again if you can, and if you haven’t already, make a contribution to your TFSA account now. Better yet go online to the CRA website and find out how much room you have to contribute to both your RRSP and your TFSA. If you do that and act on that you will be making yourself wealthier, and in those accounts we will grow and protect those deposits and help make you wealthier still.


Just do that.


Scott G. Marshall, CIM®, FCSI®

Portfolio Manager | Independent Wealth Management